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Mission Asset Fund

EIN 20-8993652 · San Francisco, CA

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceStrong92 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

TO HELP PEOPLE BECOME VISIBLE, ACTIVE, AND SUCCESSFUL IN THEIR FINANCIAL LIVES.

Income
$9.7 million
Spending
$12.7 million
Spent on programs
88%
Reserves
20.8 months of spending
Largest source of income
donations and private grants, 68%
Employees
43
Volunteers
14
Highest pay
$398,201, founder & ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Good: 85 out of 100. Higher than 67% of charities in its peer group (community improvement, $1m to $10m).

  • Reserves

    35 of 35

    Spendable reserves would cover 20.8 months of spending.

  • Debt

    20 of 20

    It owes 7% of what it owns.

  • Living within its means

    0 of 15

    Spending exceeded income by 31% of income.

  • Income trend

    15 of 15

    Income rose 9% on the year before.

  • Spending floor

    15 of 15

    88% of spending went to programs and raising each dollar of donations cost 6 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 92 out of 100. Higher than 55% of charities in its peer group (community improvement, $1m to $10m).

  • Independent board

    25 of 25

    11 of 11 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (4)
  1. $3.1 million spent. RECOVERY PROGRAM - THE ORGANIZATION LAUNCHED AN UNPARALLELED INITIATIVE SUPPORTING THE FINANCIAL RECOVERY OF IMMIGRANT FAMILIES EXCLUDED FROM FEDERAL COVID-19 RELIEF. TO SUPPORT LONG-TERM FINANCIAL RECOVERY, THE ORGANIZATION LAUNCHED THE IMMIGRANT FAMILIES RECOVERY PROGRAM--A $30 MILLION INITIATIVE PROVIDING GUARANTEED MONTHLY INCOME OF $400 FOR UP TO 24 MONTHS TO 3,000 IMMIGRANT FAMILIES. DESIGNED TO HELP FAMILIES STABILIZE AND REBUILD, THE PROGRAM GOES BEYOND CASH SUPPORT BY INCLUDING ACCESS TO CREDIT-BUILDING PRODUCTS, FINANCIAL EDUCATION, ONE-ON-ONE FINANCIAL COACHING, AND SELF-ADVOCACY TRAINING. THIS HOLISTIC APPROACH ENSURES PARTICIPANTS HAVE THE TOOLS AND RESOURCES TO RECOVER AND THRIVE.
  2. $2.8 million spent. BUSINESS MICROLOANS - BUILDING ON THE LENDING CIRCLES MODEL, THE ORGANIZATION LAUNCHED A BUSINESS MICROLOAN PROGRAM IN 2012 TO PROVIDE ZERO-INTEREST, CREDIT-BUILDING CAPITAL TO ENTREPRENEURS AND MICROBUSINESS OWNERS IN THE BAY AREA. ORIGINALLY DESIGNED FOR LENDING CIRCLES GRADUATES, THE PROGRAM HAS EVOLVED TO SERVE ASPIRING AND EXISTING ENTREPRENEURS ACROSS CALIFORNIA, REGARDLESS OF PRIOR PARTICIPATION. THROUGH BUSINESS-SPECIFIC TECHNICAL ASSISTANCE, FINANCIAL COACHING, AND LOANS OF UP TO $2,500, PARTICIPANTS RECEIVE THE TOOLS AND RESOURCES NEEDED TO INVEST IN AND GROW THEIR BUSINESSES. PROGRAM SERVICES ARE ALSO OFFERED THROUGH MYMAF, THE ORGANIZATION'S MOBILE APP, WHICH PROVIDES DIGITAL ACCESS TO FINANCIAL EDUCATION AND COACHING.
  3. $2.2 million spent. IMMIGRATION LOANS - IN 2017, THE ORGANIZATION EXPANDED ITS PROGRAM OFFERINGS TO INCLUDE A ZERO-INTEREST IMMIGRATION LOAN PROGRAM AND SCHOLARSHIPS TO HELP INDIVIDUALS COVER THE COST OF KEY IMMIGRATION PROCESSES, SUCH AS CITIZENSHIP, DACA, AND GREEN CARD APPLICATIONS. TO MEET THE EVOLVING NEEDS OF IMMIGRANT COMMUNITIES, THE PROGRAM NOW OFFERS A SLIDING SCALE OF CREDIT-BUILDING LOANS, AS WELL AS PARTIAL AND FULL GRANTS TO COVER FEES FOR SEVEN USCIS APPLICATION TYPES. LOAN FLEXIBILITY AND SUPPORT SERVICES ARE CORE TO ENSURING PARTICIPANTS CAN PURSUE IMMIGRATION RELIEF WITHOUT SACRIFICING FINANCIAL STABILITY.
  4. $3.0 million spent. LENDING CIRCLES - LAUNCHED IN 2008, THE LENDING CIRCLES SOCIAL LOAN PROGRAM IS ROOTED IN THE GLOBAL TRADITION OF GROUP LENDING AND DESIGNED TO HELP LOW-INCOME FAMILIES BUILD CREDIT, REDUCE DEBT, AND STRENGTHEN THEIR FINANCIAL SECURITY. DELIVERED IN PARTNERSHIP WITH A NATIONWIDE NETWORK OF NONPROFIT ORGANIZATIONS, THE PROGRAM OPERATES BOTH THROUGH DIRECT SERVICES IN CALIFORNIA AND ACROSS THE U.S. LENDING CIRCLES ARE PAIRED WITH TIMELY, ACTIONABLE, AND CULTURALLY RELEVANT FINANCIAL EDUCATION. RECOGNIZED FOR ITS INNOVATION AND IMPACT, THE PROGRAM HAS HELPED THOUSANDS OF PARTICIPANTS ACCESS SAFE, AFFORDABLE CAPITAL AND SUCCESSFULLY INTEGRATE INTO THE U.S. FINANCIAL SYSTEM.EMERGENCY GRANTS - THE ORGANIZATION CREATED A NATIONAL FINANCIAL RELIEF INITIATIVE TO PROVIDE DIRECT CASH ASSISTANCE TO LOW-WAGE WORKERS, CALIFORNIA PUBLIC COLLEGE STUDENTS, AND IMMIGRANT FAMILIES EXCLUDED FROM TRADITIONAL SAFETY NETS. RATHER THAN RELYING ON FIRST-COME, FIRST-SERVED OR LOTTERY SYSTEMS, THE ORGANIZATION DEVELOPED A FINANCIAL EQUITY FRAMEWORK TO EQUITABLY DISTRIBUTE RESOURCES TO THOSE FACING THE GREATEST HARDSHIP. OVER AN 18-MONTH PERIOD, MORE THAN 65,000 GRANTS TOTALING $40 MILLION WERE DISBURSED. IN ADDITION, THE ORGANIZATION LAUNCHED RESOURCES FINDER, AN ONLINE TOOL THAT HELPS INDIVIDUALS IDENTIFY AND ACCESS RELEVANT FINANCIAL SUPPORT AND SERVICES.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since April 2008.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

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